Missouri Laws 374.090 – Actuary, chief market conduct examiner and chief financial examiner, ..
1. The director shall appoint and employ an actuary, a chief market conduct examiner and a chief financial examiner, who shall be subject to removal at the pleasure of the director. The director may contract with persons to assist the actuary or to provide actuarial services subject to appropriation by the general assembly.
2. The actuary shall have had at least five years’ experience in actuarial work, the chief market conduct examiner shall have at least five years in insurance examination work as defined by the NAIC market conduct examiners’ handbook in effect on August 28, 1990, and the chief financial examiner shall have had at least five years’ experience in financial examination work.
Terms Used In Missouri Laws 374.090
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Contract: A legal written agreement that becomes binding when signed.
- Director: the director of the department of commerce and insurance. See Missouri Laws 374.005
3. The actuary and examiners shall not be or become interested in any insurance company other than as a policyholder.
4. The actuary and the examiners each shall file bond as required by the director, which shall not exceed the sum of ten thousand dollars.